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College and University Discussion
Reply to "college parents: hidden costs"
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[quote=Anonymous]Rather than creating a line item budget for all the extras of your college kids living on their own, you could come up with a monthly allowance you'll transfer into their account on the 1st of the month. Leave it to them to figure out how to budget for eating out, cabs home, hair cuts, laundry, etc. It's not quiet the same as budgeting your own money, but learning to keep a certain portion of your expenses within a budget is an important skill. Leave it to your kids to sort out. If they want to do a big spring break trip or pledge a greek society, then you can decide whether that's something you're willing to bank roll as the parent or if you think your kids should get a job for that. [/quote]
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